Concurrent Investment Advisors LLC Raises Stock Holdings in Darden Restaurants, Inc. $DRI

Key Points

• Concurrent Investment Advisors increased its Darden Restaurants stake by 163.2% in the second quarter, bringing its holdings to 39,883 shares valued at approximately $8.2 million. Institutional investors collectively own 93.64% of Darden’s stock.
• Darden reported quarterly EPS of $3.66, slightly above estimates, while revenue rose 13.7% year over year to $3.72 billion. The company also raised its quarterly dividend to $1.62, or $6.48 annually, yielding about 3.0%.
• Analysts maintain a generally positive outlook, with 18 Buy ratings and nine Holds producing a “Moderate Buy” consensus and an average price target of $230.50. However, insiders sold 70,185 shares worth roughly $14.6 million over the past three months.

Concurrent Investment Advisors LLC boosted its position in shares of Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 163.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,883 shares of the restaurant operator's stock after buying an additional 24,728 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Darden Restaurants were worth $8,216,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. NEOS Investment Management LLC increased its position in shares of Darden Restaurants by 6.3% in the second quarter. NEOS Investment Management LLC now owns 17,810 shares of the restaurant operator's stock valued at $3,669,000 after acquiring an additional 1,062 shares during the period. Nykredit A S purchased a new stake in shares of Darden Restaurants during the second quarter worth about $9,977,000. B. Metzler seel. Sohn & Co. AG boosted its holdings in shares of Darden Restaurants by 47.0% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 8,469 shares of the restaurant operator's stock worth $1,745,000 after purchasing an additional 2,708 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Darden Restaurants in the second quarter worth about $218,000. Finally, Renasant Bank bought a new stake in shares of Darden Restaurants in the second quarter worth about $253,000. Hedge funds and other institutional investors own 93.64% of the company's stock.

Insider Activity

In other news, insider Laura Williamson sold 1,110 shares of Darden Restaurants stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $204.32, for a total value of $226,795.20. Following the completion of the transaction, the insider owned 10,754 shares of the company's stock, valued at $2,197,257.28. The trade was a 9.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ricardo Cardenas sold 39,134 shares of the company's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $209.06, for a total transaction of $8,181,354.04. Following the completion of the transaction, the chief executive officer owned 86,146 shares in the company, valued at approximately $18,009,682.76. The trade was a 31.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 70,185 shares of company stock valued at $14,636,984. 0.67% of the stock is currently owned by insiders.

Darden Restaurants Price Performance

DRI stock opened at $216.87 on Friday. The firm has a 50 day moving average price of $209.44 and a 200-day moving average price of $204.89. Darden Restaurants, Inc. has a 52-week low of $169.00 and a 52-week high of $229.76. The firm has a market capitalization of $24.74 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 2.04 and a beta of 0.60. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.21 and a current ratio of 0.31.

Darden Restaurants (NYSE:DRI - Get Free Report) last posted its quarterly earnings results on Thursday, June 25th. The restaurant operator reported $3.66 earnings per share for the quarter, topping the consensus estimate of $3.63 by $0.03. Darden Restaurants had a return on equity of 57.44% and a net margin of 9.13%.The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the prior year, the business posted $2.98 EPS. The firm's quarterly revenue was up 13.7% compared to the same quarter last year. Darden Restaurants has set its FY 2027 guidance at 11.100-11.350 EPS. Equities research analysts forecast that Darden Restaurants, Inc. will post 11.25 EPS for the current fiscal year.

Darden Restaurants Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were paid a $1.62 dividend. This is an increase from Darden Restaurants's previous quarterly dividend of $1.50. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, July 10th. Darden Restaurants's payout ratio is currently 62.43%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. KeyCorp upped their price target on Darden Restaurants from $228.00 to $237.00 and gave the company an "overweight" rating in a research report on Thursday, August 27th. Weiss Ratings lowered Darden Restaurants from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, July 28th. BTIG Research boosted their target price on Darden Restaurants from $225.00 to $235.00 and gave the company a "buy" rating in a research note on Friday, June 26th. Citigroup upped their target price on Darden Restaurants from $238.00 to $245.00 and gave the company a "buy" rating in a report on Monday, June 15th. Finally, Piper Sandler raised their price target on Darden Restaurants from $208.00 to $212.00 and gave the stock a "neutral" rating in a research note on Friday, June 26th. Eighteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $230.50.

Darden Restaurants Company Profile

Darden Restaurants, Inc is a multi-brand, full-service restaurant company headquartered in Orlando, Florida. The company owns and operates a portfolio of casual and fine-dining concepts that together serve millions of guests through company-owned and franchised locations. Its well-known brands include Olive Garden and LongHorn Steakhouse, alongside other dining concepts that span Italian, American, steakhouse and upscale casual formats.

Darden's restaurants provide a range of guest-facing services including dine-in, takeout, delivery and catering, and feature menus tailored to each brand's positioning—Italian-American fare at Olive Garden, steaks and grilled items at LongHorn, and more premium steakhouse and chef-driven offerings at its upscale concepts.

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